Current Budget (and prior budget archive)
Overview and Rationale
Hive13's business accounting year matches the calendar year; January 1 to December 31. Hive13's annual meeting (when we elect officers) occurs every year during mid-summer.
Our strategy at the end of each December, is to publish an annual 12-month budget projection for the upcoming year, January 1 to December 31. As part of this exercise, the treasurer tallies the actual year-end figures for the current year as a historical record and as the basis for the formula-based budget projections for the upcoming year.
Six months later, at the end of each June, this budget is updated to show actual figures for the first half of the year (January 1 to June 30) and adjusted projections for the second half of the year (July 1 to December 31).
The annual budget projection is a tool to help our organization remain financially viable for the long-term. We seek to grow and remain cash positive. We think to maintain a rainy-day minimum reserve that would enable operations to continue for a year with no income. We use realized income to enable desired expenses. The budget process helps us to determine a reasonable allowance for the extent of desired upcoming member-voted procurements.
Income derives from three primary sources:
- Membership dues (Cornerstone, Full Member, Full Member Area Warden, Student Member, Student Member Area Warden, and Family Member)
- Donations (made direct to the Hive, and donations from conducting community outreach activities such as "Learn2Solder")
- Class Income (nominal Member and Guest tuition fees from Hive run classes)
- Other Sources (such as Soda credits)
Expenses are subdivided into two groups; fixed expenses and variable expenses
- Fixed expenses include rent (gas, electric, and water utilities are included in the rent), insurance, and internet charges.
- Variable expenses include member-voted purchases and area warden budgeted monthly expenses
- 2020 Budget (link here) January 1, 2020 to December 31, 2020
Members (with a *@hive13 email) can view the budget at this link https://docs.google.com/spreadsheets/d/1fjz7P4RxQAdls9jHTbmjzLflV3yUboontKeiZfmkQZc/edit?usp=sharing